Solar stock jumps 15% after MoU with Linton to strengthen domestic PV ingot & wafer production

Synopsis:
Websol Energy System Ltd shares surged over 15% after signing an MoU with Linton to explore PV ingot and wafer manufacturing in India, aiming to boost domestic solar production, technology capabilities, and energy security.

This company  is engaged in the business of manufacturing photovoltaic crystalline solar cells and related modules in India, is now in the spotlight after signing an MoU with Linton to explore PV Ingot & Wafer Manufacturing in India

With market capitalization of Rs. 4,993 cr, the shares of Websol Energy System Ltd are currently trading at Rs. 113.40 per share, increasing more than 15% in today’s market session, making a high of Rs. 117.10, from its previous close of Rs. 101.35 per share.

About the MoU

Websol Energy System Limited is a leading Indian manufacturer of high-efficiency solar cells and modules, has signed a Memorandum of Understanding (MoU) with Linton, a global leader in photovoltaic (PV) ingot and wafer equipment technology. 

The collaboration aims to explore opportunities for establishing PV ingot and wafer manufacturing capabilities in India. Under the agreement, Websol plans to acquire Linton’s advanced equipment, while Linton will provide technical expertise, including training and skill development for Websol’s team, to optimize operations and production processes.

Linton Crystal Technologies is headquartered in Rochester, New York, is globally recognized for its innovation in Czochralski (CZ) furnace technology and process control systems. With over 30 years of experience, Linton provides comprehensive solutions for producing high-quality crystals used in the solar industry, including CZ growers and crystal processing systems. This partnership allows Websol to leverage Linton’s expertise to develop advanced solar manufacturing capabilities in India.

The MoU supports India’s goals of enhancing domestic solar manufacturing and energy security. By producing PV ingots and wafers locally, Websol aims to reduce reliance on imports, strengthen its technology base, and build a fully integrated solar value chain. According to Sohan Lal Agarwal, Managing Director of Websol, the partnership is a key milestone in the company’s journey toward technological advancement and capturing new opportunities in India’s rapidly evolving solar industry.

About the company 

Websol Energy System Ltd, one of India’s early solar cell and module manufacturers, produces high-efficiency Mono PERC solar cells and modules. With in-house production at its Falta SEZ facility (1,200 MW cell and 550 MW module capacity), it serves domestic and international markets, supports local content norms, and leverages policy incentives and strong client partnerships.

As of Q2FY26, Websol Energy System Ltd reported 17% YoY growth in sales to Rs. 168 crore, up from Rs. 144 crore in September 2024. EBITDA increased 15% YoY to Rs. 72.3 crore, while net profit rose 10% YoY to Rs. 46.3 crore. EPS improved by 10%, reaching Rs. 1.07, reflecting steady operational and profitability growth.

The company demonstrates strong financial performance with a ROCE of 59.2% and ROE of 80.2%, supported by a debt-to-equity ratio of 0.41. Its stock trades at a P/E of 24.6, below the industry average of 33.1, and it has achieved an impressive 68.5% CAGR in profits over the past five years.

Written by Manideep Appana

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